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| The Threshold Effects of Both FDI Spillover and OFDI Spillover on Regional Innovation of High-tech Industries |
| Zhang Han1,Li Xiaolan2 |
| （1.School of Business,Qingdao University；2.College of Quality and Standardization,Qingdao University,Qingdao 266071,China） |
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Abstract On an open perspective,based on the data of provincial high-tech industries in Chinese from 2003 to 2016,the threshold panel model was established taking R&D personnel input as the threshold variable,to analyze the nonlinear effects of both FDI and OFDI spillover on regional innovation of China's high-tech industries empirically.The following robust conclusions are:Both FDI spillover and OFDI spillover have double threshold effect on regional innovation of high-tech industries.The former shows the trend firstly goes up then down,while the latter firstly goes down and then rise.R&D personnel investment,R&D capital accumulation,and urbanization level are conducive to regional innovation of high-tech industries,but the financial maturity does not.Government support may inhibit innovation of provinces` high-tech industries that have high level of R&D personnel investment; From 2003 to 2016,the number of provinces that cross the threshold of medium and high R&D personnel investment is increasing.
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Received: 25 June 2019
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